Pakistan Refinery to be upgraded among other new four projects included in CPEC

ISLAMABAD: Pakistan and China have agreed to include four key projects for oil and gas cooperation including finalisation of feasibility study on South North Gas Pipeline Project by Power China International Group of Companies and up-gradation of Pakistan Refinery Ltd, Karachi.

Top official sources disclosed to The News on Wednesday that under the China Pakistan Economic Corridor (CPEC) framework, among several projects that were discussed at the experts’ level, following were recommended to be considered, in the first instance, for early implementation under CPEC. It included:

i) Finalization of feasibility study on South North Gas Pipeline Project by Power China International Group of Companies;

ii) Up-gradation of Pakistan Refinery Ltd Karachi; and

iii) Coal to Liquid Engineering Plant based on Thar Coal at Thar Sindh;

IV) Both sides appreciated the concept to include Thar Block-VI for Coal gasification to Fertilizer projects under CPEC and desired to undertake a feasibility study for further evaluation.

Both sides appreciated the work of the Joint Experts Panels of Oil & Gas Sub working group attached to the CPEC energy sector and towards completion of the “Pakistan Oil and Gas Industry Development Plan Report” which will provide effective guidance for the development of the Oil and Gas Industry in Pakistan with emphasis on petrochemical industry refinery, oil and gas exploration including conducting seismic survey and pipeline projects.

Given the proposed projects to be helpful in development of oil and gas industry, the official said both sides agreed that these projects will be included in the “Development Plan for Pakistan Oil and Gas Industry”.

Both sides agreed to make the Development Plan more actionable for quality development of CPEC with ready projects.

Interested parties will conduct feasibilities and place before the next Energy Planning Expert Panel for review.

Both sides agreed that other projects discussed in the Experts Panel and Joint Energy Working Group meetings require further study and feasibility work before they can be formally included in the process”.

On Long Term Plan (LTP for 2017-2030) under CPEC, the two sides signed the LTP of CPEC in November 2017 with the approval of the two governments.

As required by the LTP, both parties shall press ahead with the implementation of the LTP together, maintain close communication, follow up on the implementation progress, and evaluate and update the content of LTP in due course.

On October 18, 2019 the two sides convened the second Joint Work Group (JWG) meeting on LTP, evaluated the content of LTP for the first time, reviewed implementation progress over the past two years, and carried out in-depth exchanges on the following cooperation fields in the next phase; Emerging technologies; willingness to increase number of Chinese tourists to Pakistan and integrated ECO tourism; coastal, eco-tourism in GB and Tourism zones in KPK, Maritime Sector including Fisheries; Oil and Gas sector; Mines and Minerals sector; Low Cost Housing sector; People to People and Cultural Exchanges.